Exhibit 12.1
EXCO Resources, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in thousands except ratios)
Year ended December 31, | Nine months September 30, 2015 | |||||||||||||||||||||||
2010 | 2011 | 2012 | 2013 | 2014 | ||||||||||||||||||||
EARNINGS | ||||||||||||||||||||||||
Income (loss) from continuing operations before provision (benefit) for income taxes | $ | 673,534 | $ | 22,596 | $ | (1,393,285 | ) | $ | 22,204 | $ | 120,669 | $ (1,126,786 | ) | |||||||||||
Equity method (income) loss | (16,022 | ) | (32,706 | ) | (28,620 | ) | 53,280 | (172 | ) | 1,452 | ||||||||||||||
Fixed charges | 67,665 | 92,954 | 98,647 | 122,002 | 115,644 | 91,950 | ||||||||||||||||||
Distributed income of equity investees | — | 23,436 | — | — | — | — | ||||||||||||||||||
Capitalized interest | (20,829 | ) | (30,083 | ) | (23,809 | ) | (18,729 | ) | (20,060 | ) | (10,121 | ) | ||||||||||||
Total earnings (loss) | $ | 704,348 | $ | 76,197 | $ | (1,347,067 | ) | $ | 178,757 | $ | 216,081 | $ | (1,043,505 | ) | ||||||||||
FIXED CHARGES | ||||||||||||||||||||||||
Interest expense (1) | 45,533 | 61,023 | 73,492 | 102,589 | 94,284 | 80,822 | ||||||||||||||||||
Capitalized interest | 20,829 | 30,083 | 23,809 | 18,729 | 20,060 | 10,121 | ||||||||||||||||||
Interest portion of rental expense | 1,303 | 1,848 | 1,346 | 684 | 1,300 | 1,007 | ||||||||||||||||||
Total Fixed Charges | $ | 67,665 | $ | 92,954 | $ | 98,647 | $ | 122,002 | $ | 115,644 | $ | 91,950 | ||||||||||||
Ratio of Earnings to Fixed Charges | 10.41 | 0.82 | — | 1.47 | 1.87 | — |
(1) Includes amortization of deferred financing costs and discounts on debt issuance.